Headlines

Sam's Club CEO Turns In His Membership Card

Tom Grimm resigns after disappointing 2Q profits report

Published

22 years ago

August 26, 2002

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Thomas Grimm has suddenly resigned as president and ceo of Sam's Club U.S.A., the membership-warehouse division of Wal-Mart Stores Inc. (Bentonville, Ark.). Kevin Turner, Wal-Mart executive vp and chief information officer, has been named to replace him.

A Wal-Mart spokesman said Grimm, 58, is retiring “to pursue other interests.” Sam's Club recently reported a disappointing second quarter in which the division's operating profits increased just 3 percent. Lee Scott, Wal-Mart president and ceo, had said that Sam's quarterly earnings were “unacceptable.”

Grimm, 58, former president and ceo of Pace Membership Warehouse (Denver) and a founding principal of Price Savers (Salt Lake City), came out of retirement in 1998 to take the Sam's Club job.

Kevin Turner, 37, joined the company in 1986 as an hourly worker and worked as a cashier and customer service manager. He also worked in auditing and information systems development before being named chief information officer for Wal-Mart in 2000.

Tom Coughlin will now carry the joint title of president and ceo of Wal-Mart Stores and Sam's Clubs. Turner will report to Coughlin. Linda Dillman, vp of international systems development, will replace Turner as chief information officer.

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